The Descartes Systems Group (NASDAQ:DSGX) Stock Price Up 2.3%

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) shares traded up 2.3% on Tuesday . The stock traded as high as $89.74 and last traded at $89.39. 26,801 shares traded hands during trading, a decline of 81% from the average session volume of 143,099 shares. The stock had previously closed at $87.35.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. StockNews.com upgraded shares of The Descartes Systems Group from a “hold” rating to a “buy” rating in a research report on Wednesday, April 10th. Stephens increased their price objective on shares of The Descartes Systems Group from $105.00 to $107.00 and gave the stock an “overweight” rating in a research report on Thursday, March 7th. BMO Capital Markets increased their price objective on shares of The Descartes Systems Group from $88.00 to $94.00 and gave the stock a “market perform” rating in a research report on Thursday, March 7th. William Blair reiterated an “outperform” rating on shares of The Descartes Systems Group in a research report on Monday, April 1st. Finally, Wolfe Research upgraded shares of The Descartes Systems Group from a “peer perform” rating to an “outperform” rating and set a $95.00 price objective for the company in a research report on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.44.

The Descartes Systems Group Price Performance

The firm has a market capitalization of $7.71 billion, a price-to-earnings ratio of 67.57 and a beta of 0.94. The business’s fifty day simple moving average is $89.67 and its 200 day simple moving average is $83.61.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings data on Wednesday, March 6th. The technology company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.07. The Descartes Systems Group had a net margin of 20.23% and a return on equity of 9.80%. The firm had revenue of $148.20 million for the quarter, compared to analyst estimates of $146.62 million. During the same period last year, the firm earned $0.34 earnings per share. The business’s quarterly revenue was up 18.5% compared to the same quarter last year. Equities research analysts expect that The Descartes Systems Group Inc. will post 1.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Mackenzie Financial Corp lifted its stake in shares of The Descartes Systems Group by 8.8% in the fourth quarter. Mackenzie Financial Corp now owns 1,914,238 shares of the technology company’s stock valued at $160,912,000 after buying an additional 154,110 shares in the last quarter. Fiera Capital Corp boosted its stake in The Descartes Systems Group by 5.6% in the third quarter. Fiera Capital Corp now owns 2,215,851 shares of the technology company’s stock valued at $163,085,000 after acquiring an additional 117,611 shares during the last quarter. Toronto Dominion Bank boosted its stake in The Descartes Systems Group by 37.7% in the third quarter. Toronto Dominion Bank now owns 109,676 shares of the technology company’s stock valued at $8,048,000 after acquiring an additional 30,010 shares during the last quarter. Legal & General Group Plc boosted its stake in The Descartes Systems Group by 3.1% in the third quarter. Legal & General Group Plc now owns 413,741 shares of the technology company’s stock valued at $30,506,000 after acquiring an additional 12,312 shares during the last quarter. Finally, Dynamo Internacional Gestao DE Recursos LTDA. purchased a new position in The Descartes Systems Group in the third quarter valued at about $2,693,000. 77.73% of the stock is owned by institutional investors.

About The Descartes Systems Group

The Descartes Systems Group Inc provides cloud-based logistics and supply chain management solutions worldwide. Its Logistics Technology platform offers a range of modular, interoperable web and wireless logistics management solutions. The company provides a suite of solutions that include routing, mobile, and telematics; transportation management; ecommerce, shipping, and fulfillment; customs and regulatory compliance; global trade intelligence; broker and forwarder enterprise systems; and B2B messaging and connectivity services.